Nintendo is planning to release a cheap and slightly less expensive model of the Nintendo Switch later this fall. They are also working on a “next-generation” upgrade for the Switch hardware.
Nikkei has shared some details (via) on the plans for the Nintendo Switch including a slightly cheaper model that will be available in Fall 2019. This will be more portable than the current Switch hardware but it will still be possible to dock the system and play on the big screen.
Nintendo is also currently prototyping a “next-generation” model for the Nintendo Switch. They are trying to experiment with various changes to create a better and improved iteration of the current Switch hardware. The next-generation is just around the corner with the PS5 officially announced by Sony, it is no surprise to see Nintendo trying to get around the limitations of the current Switch hardware.
While the cheaper and more portable version of Nintendo Switch will be out later this fall, the next-generation iteration is still in the planning stage and Nintendo is still trying to figure out its design.
Nintendo Switch has continued to sell well after the failure of the Nintendo Wii U. It is one of the fastest selling hardware released by Nintendo.